Over the course of history, we have read about the rise and fall of empires and the transition from one era to another. Today, we see more of things like the dollar unfold before our very eyes. The Dollar Dollar, whenever mentioned, most often than not, the concepts supremacy, wealth, gold and the like are … Read more
Because gold has a recognized value worldwide, it had been used as a universal currency dating back to the Byzantine Empire. However, upon the signing of the Bretton Woods Agreement back in 1944, the US dollar has replaced the gold in being a universal currency. But that didn’t stop gold from being a valued asset. … Read more
Why do we invest? As elementary as that question is, the answer is worth restating here: we invest to secure our money and to reap interest on the initial investment. There are many investment vehicles. Some are: stocks, crypto-currency (Bitcoin for example), real-estate, bonds and precious metals (gold and silver). Investing in gold and silver … Read more
According to InvestorWords, fiat money is money which has no intrinsic value and cannot be redeemed for any commodity, but is made legal tender through government decree. If something has no intrinsic value and can’t be redeemed for anything that does, how could people value such a thing? In other words, how can such a … Read more
According to the Merriam-Webster dictionary, the definition of money is something generally accepted as a medium of exchange, a measure of value, or a means of payment. So, what is money? This definition has three critical components: • Generally accepted as a medium of exchange • A measure of value • A means of payment … Read more
